Laos' imports, exports to China forecasted to top US$2 billion
Laos' imports, exports to China forecasted to top US$2 billion
The total import and export value from Laos to China is projected to exceed US$2 billion this year, an increase from US$1.6 billion in 2014-2015, according to a recent report.
The value of Lao exports to the Chinese market reached over US$9 25 million in fiscal year 2014-15, while imports for the same period were valued at US$74 7 million.
This year, the total import and export value from Laos to China has reached more than US$1.5 billion over the past nine months of 2015-16.
Of this figure, export values totalled US$950 million, while imports reached US$570 million, according to a report from the Import and Export Department of the Ministry of Industry and Commerce.
China currently ranks as the second largest trading partner with Laos, after Thailand.
The main exports are copper ore, chemical products, mixed gold ore and gold bars, maize, industrial products, rubber, bananas, rice, wood products, machinery and other equipment.
Laos' main imports from China include spare parts, vehicles, machinery, iron and steel products, plastic products, electronic items and fertiliser.
China is ranked the top foreign investor in Laos.
According to investment statistics, private domestic and foreign investment represented more than half of the total investment in the country.
Chinese investors in Laos now have over 764 projects in areas ranging from mining, agriculture, electricity, handicrafts and tourism, with a combined value of more than 7 billion kip.
Some 552 projects had 100 percent Chinese ownership, while 212 projects were joint venture investments with local partners.
Another mega Chinese investment project is the historic railway linking Vientiane to the Chinese border over a distance of 427 km.
The China-Laos railway has been listed as a high priority project under China's Belt and Road Initiative.
In the telecommunications sector, China is partnering with Laos on the country's first satellite project, while in the energy sector China is helping Laos to build power plants.
